Philharmonic Paid Maazel $3.3 Million in Last Year

By DANIEL J. WAKIN

Published: July 17, 2010

Lorin Maazel earned $3.3 million in his final season as music director of the New York Philharmonic, a figure representing a $500,000 increase over the previous season, according to the orchestra's newly filed tax return.

Mr. Maazel ended his tenure in the summer of 2009, and was succeeded by Alan Gilbert as music director. The compensation puts Mr. Maazel among the highest-paid conductors in the world. The Philharmonic did not disclose Mr. Gilbert's salary.

The next-biggest earner at the Philharmonic, according to the tax return for the 2008-9 season, which was released by the orchestra on Friday, was its president and executive director, Zarin Mehta. Mr. Mehta received $1 million, also at the higher end of the pay scale for top executives of orchestras. The Philharmonic spokesman, Eric Latzky, said that the figure included a $100,000 bonus.

The previous year Mr. Mehta received $2.6 million, which the orchestra has said included eight years' worth of deferred compensation. He was among senior staff members at the Philharmonic who took a 5 percent pay cut in September 2009, part of austerity measures to deal with the economic crisis that has also taken its toll on orchestras. With the cut, his salary this season was $807,000.

The same year of Mr. Maazel's $3.3 million compensation, the orchestra had a record deficit of $4.6 million. It is projecting a similar shortfall for this past season.

The tax return reflects the bleak economic times. Contributions and grants were $28 million, $6 million off the previous year. The orchestra lost $8 million on its investments, instead of the $19 million it earned on them the year before.

Net assets declined to $179 million from $224 million the previous year, mainly because of a decline in the value of the orchestra's endowment and pension fund, said Bill Thomas, the Philharmonic's senior vice president and chief financial officer.